This paper reports on a collaborative action research project that directed attention to the opportunities Physical Education presents to develop learning associated with three of the key competencies detailed in the New Zealand Curriculum; thinking; managing self; and relating to others. Three teachers in one secondary school explored the meanings each of these key competencies could take on in physical education and, specifically, ways in which adjustments to learning intentions, content, pedagogy and assessment variously helped them bring key competency learning to the fore. Attention is drawn to the benefits teachers saw arising from an enhanced focus on learning, shifts to more student-centred pedagogy, and questions that the research generated for the department's curriculum planning. Discussion also highlights the value of research approaches that emphasise collaboration and support professional learning.